The ongoing rally in the USDJPY gained traction after the US dollar caught a fresh bid wave across its main competitors in tandem with Treasury yields, especially after the 10-year yields arrived a touching distance of the 3 percent key figure. Above what level is the pair currently trading? You’ll see as you read this 23 April USDJPY Intraday Technical Forecast.
23 April, OctaFX – The U.S dollar has continued to advance to the upside against the Japanese yen, as rising longer-term U.S Treasury Yields help to lift the U.S dollar index higher across the board.
The USDJPY pair currently trades above the 108.00 level, after earlier breaking above the key 107.92 resistance level. Traders now await the release of key U.S Manufacturing data, while USDJPY buyers look for further intraday bullish advancement above the 107.92 level.
23 April USDJPY Intraday Technical Forecast
The USDJPY pair is strongly bullish while trading above the 107.92 level, further gains towards the 108.43 and 108.88 levels remains possible.
If price-action on the USDJPY pair declines below 107.92 level, sellers may test the 107.60 and 107.30 support regions.
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